CPF NOMINATION experts

[tiffanytu]

Hi

anyone has done cpf nomination?

in the form there is this line:

"I understand that this nomination shall not supersede any nomination made by me under the Central Provident Fund (Retirement Sum Scheme
Nominations) Rules."

What does this line mean? Does it mean there are two kinds of cpf nominations?

Please enlighten me.

Thank you.

 

[computers70]

I am not sure, what it means, but CPF does have its own nomination. If you do any investment with CPFIS, it will have to be nominated separately with the investment company and does not fall under the nomination act.
DPS is also not under CPF nomination scheme which you will need to contact the insurer.

 

[edwinttt1978]

Hi

anyone has done cpf nomination?

in the form there is this line:

"I understand that this nomination shall not supersede any nomination made by me under the Central Provident Fund (Retirement Sum Scheme
Nominations) Rules."

What does this line mean? Does it mean there are two kinds of cpf nominations?

Please enlighten me.

Thank you.

There is a little-known nomination form called the CPF Retirement Sum Scheme Nomination Form (formerly known as the CPF Minimum Sum Scheme Nomination Form).

This form allows spouses to nominate each other to receive retirement sum.

A nomination made under the CPF (Retirement Sum Scheme Nominations) Rules (R 8) takes precendence over a nomination made under the CPF (Nominations) Rules (R 1).

 

[LiteHouse]

There is a little-known nomination form called the CPF Retirement Sum Scheme Nomination Form (formerly known as the CPF Minimum Sum Scheme Nomination Form).

This form allows spouses to nominate each other to receive retirement sum.

A nomination made under the CPF (Retirement Sum Scheme Nominations) Rules (R 8) takes precendence over a nomination made under the CPF (Nominations) Rules (R 1).

So the monthly payout needs to go to a joint savings account?

 

[edwinttt1978]

So the monthly payout needs to go to a joint savings account?

The payout should be a lump sum payment in cheque.